Russia's Lower House Passes Cryptocurrency Regulation Bill with Retail Investment Limits

Gate News message, April 22 — Russia’s State Duma (lower house) passed a first reading of Bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” on Tuesday (April 21). The legislation establishes a core legal framework for Russian cryptocurrency markets by directing crypto trading through licensed intermediaries regulated by the Bank of Russia.

Russian residents will be able to purchase cryptocurrencies through approved intermediaries starting as early as July, while unlicensed platforms will face prohibition by July 2027. The bill introduces retail investment restrictions, allowing purchases only of highly liquid digital assets that meet specific criteria: an average market capitalization exceeding 5 trillion rubles ($66.66 billion) over the past two years, daily trading volume exceeding 1 trillion rubles ($13.33 billion), and at least five years of trading history.

Retail investors must pass a test to participate. Individual purchase limits are capped at 300,000 rubles ($4,000) per year per intermediary. Residents may purchase cryptocurrencies through foreign accounts but must report such transactions to tax authorities.

The bill explicitly prohibits using cryptocurrencies for payments. These regulations represent Russia’s most comprehensive effort to establish a structured regulatory framework for digital assets.